Why Bitcoin Is Protected by the First Amendment

Why Bitcoin Is Protected by the First Amendment

(Mermu Lucio/Flickr)

Justin Wales is a lawyer and the co-chair of Carlton Fields’ national . He is an author of “.” This article is adapted from the paper .

Regulators tend to view virtual currencies monolithically, treating cryptocurrencies like bitcoin no differently from centralized projects that share little in common with it. As a result, the federal government and many states define “virtual currencies” in such broad terms that anyone dealing in them is required to obtain a license and keep records about their customers. 

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